Mr. David Suda reports
MICH RESOURCES ANNOUNCES RESUMPTION OF TRADING ON NOVEMBER 25, 2022
Mich Resources Ltd.'s common shares will resume trading on the Canadian Securities Exchange at market open on Nov. 25, 2022, under the symbol MICH.X.
Trading in the shares of the company was halted on July 30, 2021, pending the completion of a reverse takeover transaction to acquire the Pecoy copper project in Peru (see news release dated July 30, 2021).
On Nov. 1, 2022, the company announced it had terminated the agreements to acquire the Pecoy project and was pursuing new business opportunities.
On Nov. 14, 2022, the company further announced that it had entered into a letter of intent with Pavey Ark Minerals Inc. whereby the company has an option to purchase a 100-per-cent interest in Pavey's Chrome Puddy property in Thunder Bay, Ont., Canada (see news release dated Nov. 14, 2022, for full details).
Trading in shares of the company remained halted to allow the dissemination of news and will resume at market open on Nov. 25, 2022. It is anticipated that trading will continue until a definitive agreement is signed and announced, at which time trading on the shares of the company will again be halted until the transaction is completed.
Completion of the transaction remains subject to several conditions, including the satisfactory completion of due diligence, receipt of any regulatory approvals, the negotiation of definitive documentation, including an option agreement and a share purchase agreement, among other documents, and the completion of a minimum $1-million in financing concurrent with the closing of the transaction.
About Mich Resources Ltd.
The company is a B.C. public company with a registered office. The company's common shares are listed on the Canadian Securities Exchange under the trading symbol MICH, and the company reports in British Columbia and Ontario. The company is principally engaged in the acquisition and exploration of mineral properties.
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